Recreate ASA announced that it had entered into an agreement with XG Eiendom AS ("Xania") regarding the establishment of a joint venture which shall own the group's properties Arkaden, Nedre Hjellegate 11, Henrik Ibsens gate 6 and Recreate's properties at Skien Brygge - all located in the Skien area - in addition to Xania's property at Johan Follestads vei 7. In addition, the parties intend that Kongensgate 20 and Hesselberggaten 4 shall be acquired at a later stage. The property contributed by Xania has a net cash position and the joint venture will therefore be financed to further develop the properties. The estimated loan to value ratio of the joint venture is 52% with approximately 86% of debt hedged at a fixed rate.
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5-day change | 1st Jan Change | ||
0.675 NOK | 0.00% | 0.00% | -64.10% |
1st Jan change | Capi. | |
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-64.10% | 13.71L | |
-1.96% | 2.75TCr | |
+20.05% | 2.37TCr | |
-23.57% | 1.04TCr | |
-15.82% | 999.64Cr | |
+9.18% | 980.7Cr | |
-5.84% | 668.12Cr | |
-5.91% | 582.22Cr | |
+25.30% | 444.9Cr | |
+8.52% | 268.44Cr |
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- Recreate Asa Enters into an Agreement with Xg Eiendom as Regarding the Establishment of A Joint Venture